Lewisville council adopts balanced $8 million FY 2025–26 budget with lower property tax rate

The Town of Lewisville adopted its fiscal year 2025–26 budget on a unanimous vote after a public presentation and council discussion.

Town Manager Stacy Tolbert presented the proposed budget, saying the plan “will allow us to maintain current service levels, fund reserves, plus allow us to continue working on projects currently authorized by town council.” The council approved Ordinance 2025-001 to adopt the budget as presented.

The proposed general fund budget is $8,000,000 and is balanced using $234,844 in fund balance; Tolbert said the package represents an 11.55% increase over the previous year. The ordinance reduces the town property tax rate from 21.7¢ per $100 of valuation to 18¢ per $100 of valuation, a decrease Tolbert described as “a decrease of 3.7¢ per $100 of valuation.” The manager noted that, for the town, 1¢ of the tax rate generates approximately $258,428 in revenue.

Tolbert said Forsyth County’s revaluation cycle produced large valuation increases and that the town’s real property valuation rose about 55% under the new county figures. The budget maintains the current 10¢ per $100 levy for the Willow Run Municipal Service District, Tolbert said, to reimburse the general fund for required dam repairs and to fund the district’s operating expenses.

Council discussion emphasized rebuilding capital reserves and paying cash for capital projects where possible. Mayor (identified in the meeting record as Mayor) and multiple council members noted funding for street paving and other infrastructure: Public Works Director John Hannah was referenced for an $875,000 paving allocation. Tolbert said the proposed budget also includes funding to finish the town’s unified development ordinance update and to participate financially in improvements related to the Great Wagon Road project administered by NCDOT, including lighting, wider sidewalks and utilities where the town opts to participate.

The motion to adopt Ordinance 2025-001 was made by Council Member Ivan Huffman and seconded by Council Member Monte Long. The motion passed unanimously.

The council set the stage for increased capital reserve contributions to reduce future borrowing and to preserve funding for sidewalks, parks and other town needs. The manager noted the budget was posted to the town website on April 11 and that multiple budget workshops and a May 8 public hearing preceded adoption.

The council approved the budget ordinance at the June meeting and directed staff to implement the FY 2025–26 work plan and reporting schedule included in the budget documents.